Citigroup Inc. announced Tuesday it has expanded its OpenWealth platform to include a complete package of trust accounting, operations outsourcing and custody services.
Citi said the new services have been introduced because investors are demanding new products, more detailed reporting and a higher level of service from their wealth managers.
OpenWealth aggregates household level data across wealth management platforms, investment managers and third-party custodians.
In a letter to regulators, the consortium of organizations recommended regulatory changes affecting a range of rules from risk weights to warehouse financing.
The North Carolina-based megabank is making a $25 billion commitment to private credit — the latest signal that banks are undeterred, even as Wall Street raises alarm bells about the sector.
After a federal judge allowed a new state law to ban interchange fees on taxes and tips, a coalition of banks and credit unions struck back.
Research from Andrew Davidson claims a significant number of mortgage borrowers would have a wide variance in credit score if less than three pulls are used.
A public-private group led by the Treasury issued the first two of six planned resources to help banks navigate the risks and opportunities of AI.
Treasury Secretary Scott Bessent said in a public appearance in Dallas Friday that the administration will seek alternative means of enacting the White House's tariff agenda after the Supreme Court struck down the tariffs as outside the bounds of the law.
